Frontier tech research and advisory firm Delphi Labs has raised $13.5 million to build its accelerator and advance the growth of teams working to launch Web3 projects.
The round was led by P2P, creator of liquid staking provider Lido with participation from investment firm Jump Crypto. The raise also marks the company’s inaugural attempt to attract external investments.
Delphi will give each team in the accelerator $200,000 in funding with the primary aspect of the program lasting for four to six months. Project teams will also be introduced to Delphi’s network of potential investors once they’ve completed the program.
In an announcement shared with CoinDesk, the Delphi team said, “Over our ~6 years in crypto, we’ve consulted for, invested in, and helped build several multi-billion dollar protocols across every vertical in crypto. We know first-hand how hard it is to build a crypto startup and we’ve experienced all the common pitfalls.”
A team of engineers, economists, designers, lawyers, and entrepreneurs will also provide participants with practical guidance on product development, legal matters, and go-to-market strategies.
The advisory firm said that it plans to scale up to 10 teams annually and will prioritise each cohort of the accelerator on a particular Web3 ecosystem, allowing for a more targeted approach to support.
P2P founder Konstantin Lomashuk commented, “Delphi has an exceptional team with extensive experience and a deep understanding of all aspects of managing a Web3 project. Their expertise ranges from intricate legal structures to tokenomics design and development, as well as building truly decentralised protocols and selecting the ideal technology stack.”
Delphi’s first cohort will focus on the Cosmos ecosystem and applications are now open.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
